Gold Daily Outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
287 0 2
Gold             is facing short term resistance around $1263( trend line joining $1391 and $1345) and any break above will target $1293 ( 61.8% retracement of $1391 and $1130)/$1320.
The pair’s minor support is around 1254 (200 day MA) and nay break below will take the pair to $1245/$1230.
Short term trend reversal only below $1230.

Indicator ( Daily Chart )
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy

Recommendation: Buy Gold             around $1254, SL 1244, Target $1292.
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